Bridgewater Bancshares (BWB) director boosts holdings with 1,113-share grant

Rhea-AI Filing Summary

Bridgewater Bancshares Inc. director reports stock acquisition

A director of Bridgewater Bancshares Inc. reported acquiring 1,113 shares of the company’s common stock on 12/31/2025 at a stated price of $0, indicating a grant or similar award rather than an open‑market purchase. Following this transaction, the director beneficially owns 308,113 shares directly and 866,722 shares indirectly through a trust. The indirect holdings are held in the Todd B. Urness Revocable Trust, for which Mr. Urness serves as trustee with sole voting and investment power over the trust’s shares.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Urness Todd B.

(Last) (First) (Middle)

C/O BRIDGEWATER BANCSHARES, INC.

4450 EXCELSIOR BLVD., SUITE 100

(Street)

ST. LOUIS PARK MN 55416

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bridgewater Bancshares Inc [ BWB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/31/2025		A		1,113	A	$0	308,113	D
Common Stock								866,722	I	By Trust(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares of common stock are held by Mr. Urness as trustee of the Todd B. Urness Revocable Trust under agreement dated May 21, 2024. Mr. Urness possess sole voting and investment power with respect to the shares of common stock held by the Todd B. Urness Revocable Trust under agreement dated May 21, 2024.

	/s/ Ben Klocke, Attorney-in-Fact	01/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Bridgewater Bancshares Inc (BWB) report in this Form 4?

The filing reports that a director acquired 1,113 shares of Bridgewater Bancshares Inc. common stock on 12/31/2025, at a stated price of $0 per share.

How many Bridgewater Bancshares Inc (BWB) shares does the director own after this transaction?

After the reported transaction, the director beneficially owns 308,113 shares of common stock directly and 866,722 shares indirectly through a trust.

What is the relationship of the reporting person to Bridgewater Bancshares Inc (BWB)?

The reporting person is identified as a Director of Bridgewater Bancshares Inc.

How are the indirect Bridgewater Bancshares Inc (BWB) shares held?

The indirect holdings of 866,722 common shares are held by the Todd B. Urness Revocable Trust, with Mr. Urness as trustee holding sole voting and investment power.

Was this Bridgewater Bancshares Inc (BWB) Form 4 filed for one reporting person or multiple?

The filing is marked as a Form filed by one reporting person, not a joint filing with others.

Does this Bridgewater Bancshares Inc (BWB) Form 4 involve any derivative securities?

The section for derivative securities shows no derivative transactions reported; the disclosed activity involves only common stock.